ARC Resources (TSE:ARX) Upgraded at Roth Capital

Roth Capital upgraded shares of ARC Resources (TSE:ARX) to a strong-buy rating in a report published on Friday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. MKM Partners set a C$34.00 target price on ARC Resources and gave the stock a “buy” rating in a research note on Friday. Capital One Financial raised ARC Resources to a “strong-buy” rating in a research report on Monday, October 27th. UBS Group lowered shares of ARC Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Jefferies Financial Group decreased their price target on shares of ARC Resources from C$30.00 to C$28.00 in a research note on Monday, November 10th. Finally, Scotiabank cut shares of ARC Resources from an “outperform” rating to a “hold” rating and lowered their price target for the stock from C$36.00 to C$30.00 in a report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$32.54.

ARC Resources Price Performance

Shares of ARX opened at C$25.00 on Friday. ARC Resources has a fifty-two week low of C$22.63 and a fifty-two week high of C$31.56. The firm’s 50 day moving average price is C$25.36 and its 200 day moving average price is C$26.55. The company has a market cap of C$14.39 billion, a P/E ratio of 10.64, a PEG ratio of 0.29 and a beta of -0.05. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05.

ARC Resources (TSE:ARX) last issued its quarterly earnings results on Thursday, November 6th. The oil and gas exploration company reported C$0.37 EPS for the quarter. The company had revenue of C$1.38 billion during the quarter. ARC Resources had a net margin of 20.95% and a return on equity of 14.60%. On average, research analysts forecast that ARC Resources will post 2.7255139 earnings per share for the current fiscal year.

ARC Resources Company Profile

ARC Resources is an independent energy company engaged in the acquisition, exploration, development, and production of conventional oil and natural gas in Western Canada. The company produces light, medium, and heavy crude, condensate, natural gas liquids, and natural gas. Production averaged 163.6 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds approximately 879 million boe of proven and probable crude oil and natural gas reserves.